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LIC Smart Kid
LIC Smart Kid
(Amritbaal + Smart Pension)
Child education/future plan funded via parent's pension | One-time investment: Rs 12.72 Lakhs
Key Information
Kid's Plan (Amritbaal): Kid's age 0 yrs; 7-yr PPT; Sum Assured Rs 5 Lakhs; Maturity at 21st year; Yearly Premium Rs 72,075
Parent's Plan (Smart Pension Option F): Parent age 28 yrs; Purchase Price Rs 12 Lakhs; Yearly Pension Rs 75,120
Pension (2nd–7th year) funds the kid's annual premium automatically
Maturity at 21st year: Rs 13.40 Lakhs
Parent's pension continues for life after that
Rs 12 Lakhs returned to nominee (from the pension plan)
Total benefit payouts (till ~age 80): Rs 68.80 Lakhs
Plan Structure
| Component | Details |
|---|---|
| Kid's Plan | Amritbaal, 7-year premium term, Rs 72,075 yearly premium |
| Parent's Plan | Smart Pension Option F, Rs 12 Lakhs purchase price, Rs 75,120 yearly pension |
| Automatic Funding | Pension from years 2 to 7 pays the kid's annual premium automatically |
| Total Outcome | Child maturity benefit plus lifelong parent pension and nominee return |